Zhi Tong Cai Jing·2025-08-28 08:43Group 1 - The core viewpoint of the report is that Conch Venture (00586) experienced a 9% year-on-year increase in net profit for the first half of the year, reaching 1.29 billion RMB, primarily due to significant contributions from its associate company, Conch Cement (600585) [1] - Excluding this contribution, the core net profit for the first half decreased by 6% to 446 million RMB [1] - The company declared its first interim dividend of 0.1 HKD per share, resulting in a payout ratio of only 12% [1] Group 2 - The report anticipates a revenue yield of 5.1% for the company this year, with projections for 6.5% to 8.4% from 2026 to 2027 [1] - The target price for the company's shares has been raised from 10.1 HKD to 12 HKD, with a rating of "Buy" [1]